King Wealth Management Group Makes New $218,000 Investment in Danaher Co. (NYSE:DHR)

King Wealth Management Group bought a new stake in shares of Danaher Co. (NYSE:DHR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 785 shares of the conglomerate’s stock, valued at approximately $218,000.

Other hedge funds also recently bought and sold shares of the company. Banco Santander S.A. grew its holdings in Danaher by 21.1% during the 1st quarter. Banco Santander S.A. now owns 3,298 shares of the conglomerate’s stock valued at $824,000 after buying an additional 574 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Danaher in the first quarter worth about $2,985,000. Nicolet Advisory Services LLC boosted its stake in Danaher by 23.2% during the first quarter. Nicolet Advisory Services LLC now owns 1,837 shares of the conglomerate’s stock valued at $459,000 after buying an additional 346 shares during the last quarter. Intech Investment Management LLC increased its stake in Danaher by 15.6% in the 1st quarter. Intech Investment Management LLC now owns 15,657 shares of the conglomerate’s stock worth $3,910,000 after acquiring an additional 2,116 shares during the last quarter. Finally, Spirepoint Private Client LLC bought a new position in shares of Danaher during the 1st quarter valued at approximately $6,262,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DHR. KeyCorp lifted their price objective on shares of Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their price target on Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI raised their target price on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stephens reissued an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company began coverage on Danaher in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.16.

Insider Activity at Danaher

In other news, SVP Georgeann Couchara sold 952 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. The trade was a 18.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.10% of the stock is owned by insiders.

Danaher Stock Performance

Shares of Danaher stock opened at $239.45 on Friday. The firm has a market capitalization of $172.95 billion, a P/E ratio of 45.70, a PEG ratio of 4.44 and a beta of 0.85. Danaher Co. has a 52 week low of $204.15 and a 52 week high of $281.70. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $263.42 and a 200 day moving average price of $260.64.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the company posted $2.02 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Sell-side analysts expect that Danaher Co. will post 7.51 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio is presently 20.61%.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.